GE Provides Update on Sale of Appliances
June 30 2015 - 06:30AM
Business Wire
GE [NYSE:GE] announced today that the regulatory review for the
sale of its Appliances business to Electrolux continues. As a
result, the deal will not close during the second quarter of this
year. Electrolux and GE continue to work actively with the
Department of Justice to endeavor to resolve the remaining
items in the clearance process, with the
goal of closing the deal in 2015. GE expects an
approximate after-tax gain of $0.05-$0.07 per share at closing.
GE continues to believe that GE Appliances’ customers, consumers
and employees will benefit from Electrolux’s commitment to the
appliance business and its ability to compete with global
competitors.
GE also announced today that it will book a $0.03 per share gain
in the second quarter as part of an early settlement related to
obligations entered into in the initial NBCUniversal joint venture
with Comcast, which was announced in 2011. As a result, GE expects
gains to offset restructuring and other charges during the second
quarter.
About GE
GE (NYSE: GE) imagines things others don’t, builds things others
can’t and delivers outcomes that make the world work better. GE
brings together the physical and digital worlds in ways no other
company can. In its labs and factories and on the ground with
customers, GE is inventing the next industrial era to move, power,
build and cure the world. www.ge.com
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version on businesswire.com: http://www.businesswire.com/news/home/20150630005607/en/
GEInvestor:Matt Cribbins,
203-373-2424matthewg.cribbins@ge.comorMedia:Seth Martin,
203-572-3567seth.martin@ge.com
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